Argentina and China are leading the way in developing commercial volumes of shale gas outside North America.
That’s according to a new report from the US Energy Information Administration (EIA), which stated the two countries have the potential to “significantly increase” production of shale gas and tight oil.
It added China has drilled more than 200 wells and Argentina more than 275 in the last two years.
Argentinian energy company Yacimientos Petroliferos Fiscales (YPF) produced 22,900 barrels per day (b/d) of oil and 67 million cubic feet per day (MMcf/d) of natural gas in April 2015.
According to China’s Ministry of Land and Resources, two major companies in the country are expected to reach 600 MMcf/d of shale gas production by the end of 2015.
Apart from the US, Canada, Argentina and China, other countries including Poland, Algeria, Australia, Colombia and Russia have started exploring for shale and other tight resources but “they are still short of reaching commercial production”.
Mexico has also started to frack, the EIA stated.